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Stock Market & Financial Investment News

News Breaks
June 21, 2013
07:56 EDTSHOOSteven Madden reflects favorable risk/reward, says Brean Capital
Brean Capital would be aggressive buyers of Steve Madden as they believe shares reflect a favorable risk/reward. The firm said the company remains poised for both short and long-term growth citing its healthy cash balance, the revamping of its e-commerce platform, and its activity in the M&A market. Shares are Buy rated with a $56 price target.
News For SHOO From The Last 14 Days
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October 20, 2014
13:14 EDTSHOODSW's FY14 guidance more at risk today, says Sterne Agee
Sterne Agee said DSW's (DSW) FY14 EPS guidance is more at risk today following Steven Madden's (SHOO) guidance cut this morning. The analyst said lower price points and higher shipping costs are reflected in margin guidance but not the need for increased promotional activity.
13:10 EDTSHOOSteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
09:22 EDTSHOOOn The Fly: Pre-market Movers
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08:04 EDTSHOOSteven Madden cuts FY14 EPS view to $1.81-$1.86, consensus $2.02
Previous guidance was $2.00-$2.10. Now sees FY14 net sales up 1%-2% over FY13, consensus $1.38B. Previous net sales guidance was up 2%-4% over FY13.
08:02 EDTSHOOSteven Madden sees Q3 EPS approx. 61c-62c, consensus 67c
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